mHealth Market Size, Share & Industry Analysis, By Category (Mobile Applications {Disease & Treatment Management [Healthcare Providers/Insurance, Medication Reminders, Women Health and Pregnancy, Disease Specific], Wellness Management [Fitness, Lifestyle and Stress] and Others} and Wearables {Body & Temperature Monitors, Sleep Trackers, Fitness Trackers, Glucose Monitors, and Others}), By Service Type (Monitoring Services, Fitness and Wellness Solutions, and Other Services), By Service Provider (mHealth App Companies, Pharmaceutical Companies, and Others), and Regional Forecast, 2024-2032

The global mHealth market size was valued at USD 83.17 billion in 2023. The market is projected to grow from USD 93.12 billion in 2024 to USD 249.05 billion by 2032, exhibiting a CAGR of 13.1% during the forecast period.

mHealth refers to the practice of public health and medicine supported by mobile devices, such as mobile phones, personal digital assistants, tablets, and wireless infrastructure. Within digital health, it encompasses all applications of multimedia and telecommunications technologies for the delivery of health information. Applications include education & awareness, diagnostic & treatment support, healthcare supply chain management, remote monitoring, chronic disease management, and others. The market is anticipated to witness significant growth over the forecast period owing to the increasing adoption of these services across the globe. Moreover, increasing demand for home-based remote patient monitoring services for the elderly population is another crucial factor augmenting the market growth.

Furthermore, the increasing number of companies entering the mHealth market is another chief factor supporting industry competition and influencing major players to offer novel solutions to grab a strong foothold in the market. In addition, the introduction of innovative technology supporting the broader aspect of the healthcare services is another significant factor fueling product demand, boosting the market revenue. For instance, in December 2019, the U.S. Food and Drug Administration (FDA) announced the launch of CURE ID, a cloud-based repository for the clinical community to report their experiences treating rare infectious diseases with innovative uses of existing FDA-approved drugs through a smartphone, website, or other mobile devices.

The COVID-19 pandemic positively influenced the global market due to the increased demand for digital-based solutions. The restrictions imposed on movement, along with the postponement of elective body check-ups, among others, led to the adoption of these mobile-based health apps to track their health, contributing positively to the market growth.

mHealth Market Trends

Growing Preference for Remote Patient Monitoring Systems

There is an increasing awareness of remote patient monitoring systems owing to the emergence of highly infectious diseases, such as COVID-19, among others. Remote patient monitoring enables healthcare professionals to monitor patients outside their traditional care setting with the help of digital medical devices such as weight scales and blood pressure monitors. Furthermore, these devices are becoming highly popular owing to their convenience and versatility among the general population.

• For instance, according to statistics published by Koru UX, it was reported that about 93% of primary care practitioners use digital technologies, such as electronic medical records (EMRs) in 24 countries.

The increasing demand for these systems is further resulting in the growing focus of key players on collaborations and mergers with an aim to cater to the growing demand among the population.

• In April 2024, Koninklijke Philips N.V. partnered with SmartQare, a player dedicated to manufacturing multi-sensor solutions for 24-hour monitoring, with an aim to integrate SmartQare’s advanced solution viQtor with the company’s patient monitoring systems.

Furthermore, key players are focusing on research and development activities to introduce innovative remote patient monitoring systems in the global market.

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mHealth Market Growth Factors

Increasing Penetration of Smartphones and Other Wireless Technology Will Spur Revenue Growth

There is an increasing demand for smartphones and other wireless technology among the general population owing to certain factors, including convenience, versatility, less time consumption, among others. Increasing digital transformation of healthcare is further enabling the growing integration of health applications with the technology, resulting in rising demand for these systems globally.

Furthermore, the growing demand is further resulting in the rising focus among key players on research and development activities to launch innovative products among the general population. Moreover, government organizations and healthcare agencies are also focusing on strategic initiatives to promote awareness about these technically advanced products in the market.

• For instance, in October 2023, Cedars-Sinai, a medical group, launched a new artificial intelligence-based mHealth app, Cedars-Sinai Connect, for patients. The app was launched with an aim to provide virtual care options for various clinical conditions among patients.

Such initiatives are anticipated to boost the mHealth market growth.

RESTRAINING FACTORS

Data Privacy Concerns Associated with these Apps to Hamper the Growth of the Market

There is a growing adoption of mobile health apps due to their significant benefits such as less time consumption, among others. However, one of the significant limitations of this advanced technology is the concern regarding cyber threats with these apps, resulting in personal data breaches among patients.

The increasing cases of personal data leak, including health-related information biometric sensors, among others, compromise the integrity and confidentiality of patient’s data. This is further limiting the adoption of these apps among the general population.

• For instance, in 2021, according to data published by Guard Square, it was reported that researchers analyzed 20,000 mHealth apps in the Google Play Store, amongst which 45% of apps relied on unencrypted communication, 23% of apps shared personal data on unsecured traffic, and 1.8% apps contained the suspicious code.

Therefore, growing risks of cyber threats with these apps are likely to limit the adoption of these apps, hampering the growth of the market. Furthermore, limited focus on ways to reduce cyber threats to protect patient data is further likely to limit the growth of the market.

mHealth Market Segmentation Analysis

By Category Analysis

Mobile Applications to Dominate the Market Owing to Growing Adoption of mHealth Apps

Based on category, the market can be segmented into mobile applications and wearables. The apps segment is further bifurcated into disease & treatment management, wellness management apps and others.

The mobile applications segment dominated the market in 2023 due to growing demand for fitness apps among the general population owing to the provision of affordable healthy dietary plans, exercise plans, and others, resulting in rising adoption of these apps. This, along with a rising focus on key players to launch advanced apps, is also likely to support the growing adoption of these apps, contributing to the segment’s growth.

• For instance, in October 2022, Fitness tech startup Insane AI launched an artificial intelligence-powered fitness training app, Insane AI, that enables precise motion tracking with any smartphone.

Thus, a growing number of product launches among key players is likely to contribute to the rising adoption of these apps in the market.

The wearable segment is expected to grow with the highest CAGR during the forecast period. The segment’s growth is attributed to the rising adoption of wearable devices, including smart watches, smartclothing, and others, especially among the younger generation. This, along with a rising focus of key players toward mergers and collaborations to strengthen their product portfolio, is likely to support the growth of the segment.

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By Service Type Analysis

Monitoring Services Segment Holds Leading Position Owing to Growing Prevalence of Chronic Disorders

Based on service type, the market is segmented into monitoring services, fitness and wellness solutions, diagnostic services, treatment services, and other services.

The monitoring services segment dominated the market in 2023. The growth is due to increasing prevalence of chronic disorders such as cardiac disorders, among others, resulting in rising demand for mobile health apps and wearable devices among patients. This, along with the growing geriatric population suffering from chronic disorders is also increasing the demand for mobile health services in the market.

The fitness and wellness solutions segment is also expected to grow considerably due to rising focus on the maintenance of fitness and wellness among the population, especially in adults. Furthermore, with the growing number of products offering fitness and wellness services is likely to boost the growth of the segment.

• For instance, in June 2022, Etisalat UAE, launched GoWell, a fitness and wellness platform, with an aim to strengthen their global presence in the market. Thus, increasing the number of service offerings for fitness and wellness is likely to boost the adoption for these services.

By Service Provider Analysis

Novel Products and Services Offered by mHealth app Companies Led to their Dominance

By service provider, the market is segmented into mHealth app companies, pharmaceutical companies, hospitals, health insurance providers, and others.

The mHealth app companies segment dominated the market in 2023 due to the escalating demand for mHealth apps resulting in a rising number of mHealth app companies offering the solutions such as fitness and wellness apps, health management apps, and others. This, coupled with growing adoption of mobile health apps, among others are some of the other factors supporting the growth of the segment in the market.

• For instance, in April 2023, Anytime Fitness, a fitness club, launched AF SmartCoaching technology app with an aim to strengthen its product portfolio. Thus, growing number of mHealth app companies focusing on launching novel apps is likely to boost the adoption of these apps among these companies, supporting the growth of the segment in the market.

The pharmaceutical companies segment is also expected to grow considerably during the forecast period due to rising awareness about the benefits of these mobile health apps among pharmaceutical companies. The increasing number of pharmaceutical companies focusing on the integration of advanced technology into these apps and wearable devices is likely to augment the growth of the segment.

Additionally, the hospitals segment is expected to grow with the highest CAGR during the forecast period owing to the increasing number of multi-specialty hospitals across several regions. Moreover, the presence of state-of-the-art facilities in such multi-specialty hospitals will further augment business growth. The availability of desired infrastructure to accommodate such services, along with growing government initiatives to incorporate these solutions across maximum hospitals, will positively drive segmental growth.

REGIONAL INSIGHTS

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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North America was valued at USD 25.23 billion in 2023 due to growing prevalence of chronic diseases such as cardiovascular diseases, rising penetration rate of smartphones, and increasing number of hospitals and ASCs, in countries the U.S. and Canada. These factors coupled with rising focus of key players on strategic initiatives to launch innovative apps and wearables is likely to augment the region’s growth.

• For instance, according to 2023 data published by Exploding Topics, it was reported that approximately 81.6% of the population actively uses smartphone in the U.S.

Europe is also expected to grow considerably during the forecast period driven by the growing number of new startups focusing on the development of innovative mobile health apps, wearables, to cater to the growing demand among patients. This, along with increasing demand for remote patient monitoring devices among the patients is further likely to increase the adoption of these apps and wearables in the market.

In Asia Pacific, the market is anticipated to witness exponential growth from 2024 to 2032. The growing prevalence of chronic diseases will strongly augment Asia Pacific’s market size. Furthermore, mobile broadband usage is rising rapidly throughout Asian countries, thereby augmenting regional growth. Additionally, the increasing number of elderly populations in India and Japan will further escalate the Asia Pacific mHealth market share. Furthermore, growing healthcare expenditure is another significant factor boosting product demand across the forecast period.

KEY INDUSTRY PLAYERS

Fitbit, Inc., Dominated the Market Owing to Increasing Number of Product Launches

The global market is fragmented with several players operating with a wide range of products and service portfolio. Fitbit,Inc., DEXCOM, and Apple Inc., are some of the prominent companies contributing to a major share in the market. Few of the notable players functioning in the market are Jawbone Health Hub, Inc., Omada Health, Inc., BioTelemetry, Inc, Livongo Health, AT&T, Boston Scientific Corporation, Omron Healthcare, Inc., and others. In addition, the market’s fragmented nature allows multiple startups to enter the market. Moreover, an increasing number of companies offering innovative services to elevate user experience will further boost product demand.

• For instance, in June 2024, DEXCOM collaborated with Apple Inc., to integrate the real-time blood sugar data for Dexcom G7 users on Apple Watch. This collaboration helped the players to increase their brand presence in the market.

List of Top mHealth Companies:

• Fitbit, Inc. (U.S.)


• Apple Inc. (U.S.)


• DEXCOM, Inc. (U.S.)


• Koninklijke Philips N.V. (Netherlands)


• Omada Health, Inc. (U.S.)


• Teladoc Health, Inc. (U.S.)


• Boston Scientific Corporation (U.S.)        


• Omron Healthcare, Inc. (Japan)


• SAMSUNG (South Korea)


• BD (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2024: Postpartum Support International (PSI) launched the Connect App for perinatal mental health for women after postpartum with an aim to strengthen its presence globally.


• March 2024: Apple Inc., announced the launch of Apple Watch Series 10, which would include blood pressure monitoring among patients in September 2024.


• March 2024: Wellysis launched the remote cardiac monitoring service in partnership with Artella Solutions with the FDA-cleared S-Patch ExL device in the U.S.


• December 2023: Neuranics, a magnetic sensor specialist startup, launched a wearable Magnetocardiography (MCG) development platform to fortify its market position.


• June 2023: Oura launched a new smart ring that enables users to track a variety of biometric data, including sleep tracking, among others, with an aim to strengthen its product portfolio.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, competitive landscape, and product types. Besides, it offers insights into the market trends and highlights key industry developments, such as mergers, acquisitions, and partnerships. In addition to the aforementioned factors, the report encompasses several key insights, such as statistics on smartphone penetration rate for key countries, data pertaining to healthcare expenditure for key countries, average costs of chronic illnesses by type of medical facility in the U.S., new product launches, and others.

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Report Scope & Segmentation